Thanks to the COVID-19 pandemic, young students have faced a lot of change the past couple years. While some children may have always been a little apprehensive at the start of the new school year, the fear or uncertainty of returning to school might be more prevalent than usual. Although what school looks like this September will vary by region, grade and school boards, most schools are gearing up for in-person learning again.

You know you’re ‘adulting’ when you start thinking about saving money for things like your family, kids and your retirement. Many of us are challenged with how to save for both our kids’ education and our “golden years” at the same time.  Fortunately, products like Registered Retirement Savings Plans (RRSPs) and Registered Education Savings Plans (RESPs) help make this choice a little easier. But when you’re a parent who’s being pulled in two directions, which one do you put your money in?

Let’s get to know the differences between an RRSP and an RESP.